Rap Mogul, 50 Cent Declares Bankruptcy
"50 Cent is no longer getting money. The rap mogul has filed for bankruptcy, three days after Rick Ross’ baby mama won a $5 million verdict against him. A jury awarded Lastonia Leviston the judgement after determining that 50 intentionally leaked a sex tape in which she was featured, in order to embarrass his rival Ross. "
50 has been ordered to produce proof of income and worth so the jury can determine punitive damages. The disclosure would have given a rare glimpse into his financial background.
The bankruptcy filing comes as a surprise as the hip-hop tycoon had a reputation for being among the wealthiest in hip-hop. Earlier this year, Forbes estimated his net worth at $155 million.